Sunday, 31 July 2011

Economics

The latest news, analysis and comment on the UK and global economy.

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ECONOMICS NEWS

UK households squeezed harder than US

UK households are suffering a tighter squeeze on disposable incomes than either the US or the rest of Europe, due largely to the weakness of sterling.

30 Jul 2011

Is the US debt crisis mere brinkmanship or a real problem?

There are, broadly speaking, two ways to depict the US debt ceiling saga.

30 Jul 2011

US debt deal talks in deadlock

Democrats and Republicans remained deadlocked on Saturday night over whether and how to raise the US debt ceiling – with just two days to go before Tuesday's critical deadline which could see the US default on its debt obligations.

30 Jul 2011

Why Osborne must not flinch from carrying out his austerity plan

Attention is understandably focused on the tortured "US debt-ceiling" negotiations.

30 Jul 2011

Calls to scrap 50p tax backed

A former Conservative chancellor today adds to pressure on George Osborne by backing calls for the abolition of the 50p income tax rate for the highest earners.

30 Jul 2011

Ministers know how to get us out of this mess – cut taxes

The Government putting political considerations ahead of sound economic sense, says Janet Daley.

30 Jul 2011

Barack Obama issues plea after US GDP shock

Barack Obama warned that America’s prized AAA rating is in jeopardy and that the country is “almost out of time” to agree a deficit deal as GDP data showed the moribund state of the US economy.

29 Jul 2011

Spanish bank fields Ronaldo as collateral

Cristiano Ronaldo, the most expensive footballer in history, could feasibly become ECB property after he was pledged as collateral for emergency liquidity support by Spain's struggling savings bank, Bankia.

29 Jul 2011

Spain downgrade threat adds to eurozone woes

Spain is facing another threat to its credit rating after Moody's Investor Services warned that as well as its own dire economic problems, the country is also vulnerable to the knock-on impact of the €159bn (£139bn) Greek bail-out.

29 Jul 2011

The world needs America to come to its senses

Telegraph View: Brinkmanship between the White House and Congress over the debt crisis has made a laughing stock of the country, raising doubts about the dollar and US economic might.

29 Jul 2011

Now is not the time for a pacifist President

Barack Obama must take a tip from Morgan Freeman in Deep Impact and deploy the nuclear option, argues Matthew Norman.

29 Jul 2011

Construction recovery held back by austerity measures

The boss of one of Britain's biggest builders merchants, Travis Perkins, has warned public spending cuts and tax rises have started to drag down a recovery in the construction industry.

29 Jul 2011

Apple now holds more cash than US government

Apple is now more cash-rich than the United States government, figures from the US Treasury department show.

29 Jul 2011

Barack Obama renews pleas for action on debt ceiling deal

US President Barack Obama has renewed his pleas for a deal between Republicans and Democrats, criticising Washington for not having a 'triple A political system to match our triple A credit rating'.

29 Jul 2011

US GDP growth disappoints as economy stagnates in first quarter

Markets received a shock on Friday as the US said its economy expanded at a weaker pace during the past three months than expected, while a revision of first quarter estimates showed growth slowed to a virtual standstill.

29 Jul 2011

Mortgage approvals pick up

Mortgage approvals hit a 13-month high last month, the Bank of England reported, but economists cautioned that they remained low by long-term standards.

29 Jul 2011

More pain for Spain

Top stories: US debt, Spain, Pearson and UK interest rates

29 Jul 2011

US debt crisis: political factions that will influence the deal

On any major piece of legislation that moves through the US Congress, various factions within the US House of Representatives and Senate can influence chances of success or failure.

29 Jul 2011

July is cruellest month for UK retailers

July has been the toughest month of trading faced by retailers in more than a year, according to the Confederation of British Industry (CBI), as worried consumers baulked at rising prices.

29 Jul 2011

US debt crisis: Republicans abandon key vote

Speaker John Boehner fails to get Tea Party wing to support him.

29 Jul 2011

Eurozone woes continue as Italy under fire

The Italian government was forced to pay the highest borrowing costs for 11 years in a bond auction that underscored market fears that a new phase of the European debt crisis is set to be unleashed.

28 Jul 2011

China's economic miracle may be about to come off the rails

Largely invisible to a radar screen dominated by concerns over the US and eurozone debt crises, the Chinese economic miracle, one of the few apparent bright spots that remains in a world beset by trouble, has in recent weeks also been showing unnerving signs of strain. Indeed, it may even be about to come off the rails entirely – quite literally.

28 Jul 2011

Warnings of global slump

A chorus of global banks has warned that Washington risks triggering a global slump and may suffer permanent loss of credibility by flirting with default on America's $14.3 trillion (£8.8 trillion) federal debt.

28 Jul 2011

Cable avoids the red tape that truly needs to be cut

Telegraph View: The Business Secretary has binned some regulations that are routinely ignored - but he's not seen off EU measures that will damage British industry.

28 Jul 2011

UK bonds safer than American debt

British government bonds were rated as a safer bet than American debt for the first time in almost two years on Thursday as the threat of a US default looms.

28 Jul 2011